| Washington State House of Representatives Office of Program Research |
BILL ANALYSIS |
| Finance Committee | |
HB 2675
This analysis was prepared by non-partisan legislative staff for the use of legislative members in
their deliberations. This analysis is not a part of the legislation nor does it constitute a
statement of legislative intent.
Brief Description: Providing for a property tax exemption for the administrative offices of certain nonprofit organizations.
Sponsors: Representatives Hasegawa and Chase.
Brief Summary of Bill |
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Hearing Date: 1/25/08
Staff: Don Taylor (786-7388).
Background:
Property tax exemptions are currently provided for a variety of nonprofit organizations.
However, the only exemption which applies to administrative offices is for religious
organizations.
Summary of Bill:
Provides a new property tax exemption for community-based development or community
housing development organizations; the exemption applies to both real and personal property
owned by an eligible entity. The exemption is restricted to administrative offices that deal with
low and moderate-income housing programs of the organization. To qualify, the organization
must be nonprofit - 501(c)(e) of the Internal Revenue Code - and be a community-based
development organization (CBDO) or a community housing development organization (CHDO),
pursuant to U.S. Department of Housing and Urban Development definitions.
There are currently 10 community-based development organizations in the state - nine are in
King County and one is in Spokane County. Community housing development organizations
total 43; these are located in Chelan, Clark, King, Kitsap, Pierce, Skagit, Snohomish, Spokane,
and Thurston counties. In addition, there are four combined CBDO and CHDO organizations
located in King County.
Appropriation: None.
Fiscal Note: Requested on 1/15/08.
Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.